Question to the Department for Digital, Culture, Media & Sport:

To ask Her Majesty's Government what assessment they have made of the operation of Government-backed COVID-19 insurance schemes for the creative industries.

The UK Live Events Reinsurance Scheme and Film and TV Production Restart Scheme were introduced as part of HM Government's commitment to provide support during the Covid-19 pandemic and address market failure in the insurance sector.

Both schemes have contributed positively to the creative industries.The UK Film and TV Production Restart Scheme has supported a production boom during the pandemic, so far protecting over 95,000 jobs and nearly £3 billion of production spend, ensuring the continued production of content for our screens. Since the Live Events Reinsurance Scheme’s launch in September 2021, around £110 million of cover has been written for a wide variety of events, including business events, concerts and theatre performances. So far, 2.7 million people have attended or are due to attend events covered by the Scheme. In addition to directly supporting events, the scheme also protects the supply chains and local economies that depend on their taking place.

The Film and TV Production Restart Scheme’s operation was assessed by an independent body in a Process Evaluation published in January 2022. The research found that close working with industry on establishing the scheme ensured that those most in need of support were able to benefit. An impact evaluation will be published by the end of the year. Similarly, the Live Events Reinsurance Scheme will be undergoing a review in the Spring to assess its effectiveness, including the extent to which it has benefitted the live events sector while also delivering value for money for UK taxpayers. A full evaluation of the Scheme will follow in early 2023.